Don't Forget to Review Your Beneficiaries!

Comprehensive Coverage

Voluntary benefits can help protect you and your family from unexpected expenses related to illness, accidents, disability, hospitalization, or death.

Auburn University offers several voluntary insurance options that can complement your medical coverage and provide additional financial protection.

During Open Enrollment, you can enroll through AU Access, contact the PWS Call Center at 833-203-4283, or schedule an online meeting with a benefits enroller. We also encourage you to review your beneficiary information.

Available Voluntary Benefits

Cancer

Group Cancer Insurance Brochure

Cancer insurance through Colonial Life can help offset expenses related to a cancer diagnosis and treatment that may not be fully covered by your medical plan.

Benefits can help pay both direct and indirect costs associated with treatment and recovery.

Auburn University offers two cancer insurance plans through Colonial Life. Both plans are guaranteed issue regardless of health status. Premiums are paid by the employee through payroll deduction.

Review the Cancer Insurance Plan Comparison for a side-by-side overview of available benefits.

How Cancer Insurance Can Help

  • Help pay direct and indirect expenses related to cancer diagnosis and treatment.
  • Help cover expenses your medical plan may not fully pay, such as deductibles, coinsurance, and other out-of-pocket costs.
  • Provide annual benefits for eligible cancer screening tests, including mammograms and prostate screenings.

Level 2 Premium Rates

Colonial Life Cancer Insurance - Level 2
Pay Frequency Self Family
Biweekly $6.39 $10.66
Monthly $13.85 $23.10
18-Pay Schedule $9.23 $15.40

Level 3 Premium Rates

Colonial Life Cancer Insurance - Level 3
Pay Frequency Self Family
Biweekly $10.41 $17.31
Monthly $22.55 $37.50
18-Pay Schedule $15.03 $25.00

Critical Illness

Critical illness insurance through The Standard provides a financial safety net if you or a covered family member is diagnosed with a covered serious illness.

Benefits are paid directly to you as a lump-sum payment and may be used for any purpose, including medical bills, mortgage or rent payments, household expenses, transportation, or other financial needs.

Helpful resources:

How Critical Illness Insurance Can Help

  • Provides coverage for qualifying conditions such as cancer, heart attack, stroke, and other covered critical illnesses.
  • Pays a lump-sum benefit directly to you following a covered diagnosis.
  • Helps offset expenses that may not be fully covered by your PPO or HDHP.
  • Can be used for medical expenses, housing costs, transportation, childcare, or everyday living expenses.

Health Maintenance Benefit

You and your covered dependents may be eligible for a $100 wellness benefit each year by completing one of the approved health maintenance screenings .

Learn more about the claims process: How to File a Claim .

How to Register

  1. Go to standard.com.
  2. Select Log In.
  3. Select Create an Account.
  4. Select My Insurance Benefits Through Work.
  5. Choose Create an Account.
  6. When prompted for a policy number, enter 647266.
  7. When prompted for your ID number, enter your Banner ID.

Life Insurance

Auburn offers whole life and term life insurance plans to eligible full-time employees.

The table below highlights key differences between term life insurance and whole life insurance.

Comparing Term Life Insurance and Whole Life Insurance
Feature Term Life Insurance Whole Life Insurance
Coverage Duration Provides coverage for a specific term, such as 10, 20, or 30 years. Provides lifetime coverage.
Premiums Typically lower and fixed during the selected term. Typically higher but fixed for life.
Cash Value Does not build cash value. Builds cash value over time.
Cost Generally more affordable. Generally more expensive.
Death Benefit Paid if death occurs during the policy term. Guaranteed if premiums remain current.
Policy Expiration Coverage ends when the term expires. Coverage remains in force for life.
Surrender Value None. May have surrender value depending on the policy.
Loan Availability Loans are not available. Loans may be available against accumulated cash value.
Best For Temporary financial needs such as a mortgage, college expenses, or income replacement. Long-term financial planning, estate planning, and permanent life insurance needs.

Whole Life

Whole life insurance through MassMutual provides permanent life insurance coverage and includes guaranteed cash value accumulation, guaranteed premium rates, and a guaranteed death benefit (reduced by any outstanding loans and loan interest).

Eligible employees may purchase up to $150,000 of guaranteed issue coverage without providing health information.

Key Features

  • Lifetime coverage that does not expire as long as required premiums are paid.

  • Level premiums that remain the same throughout the life of the policy.

  • Guaranteed cash value that grows over time and may be available for loans or other policy options.

  • Guaranteed death benefit for your beneficiaries, subject to policy terms and any outstanding loans.

Whole life insurance can provide long-term financial protection while also building cash value throughout the life of the policy.

Term Life

Term life insurance through The Standard can help provide financial protection for you and your loved ones. Benefits may help cover expenses such as mortgage payments, college tuition, childcare expenses, and everyday living costs.

Employer-Provided Coverage

Eligible employees automatically receive Basic Term Life Insurance at no cost.

  • Coverage is equal to one times your annual base salary.

  • The maximum employer-provided benefit is $35,000.

Optional Life Insurance Coverage

Additional coverage options are available for employees and eligible dependents and are paid by the employee through payroll deduction.

  • Employees may purchase up to five times annual earnings, with a maximum benefit of $450,000.

  • Spouse or sponsored adult dependent coverage is available in $10,000 increments, from $10,000 to $100,000.

  • Child or sponsored child

Special Enrollment Period

During Open Enrollment, you can increase or add voluntary life insurance coverage through The Standard without providing Evidence of Insurability (EOI), which is normally required when electing higher coverage amounts.

In addition, you may elect or increase spouse life insurance up to the guaranteed issue amount of $20,000 without EOI. This special enrollment opportunity provides added flexibility to review and enhance life insurance coverage for you and your family without completing medical underwriting requirements.

Long Term Disability

Long-term disability (LTD) insurance through The Standard is provided at no cost to eligible full-time employees who have completed at least one year of employment.

If a covered disability prevents you from working for an extended period, Auburn's LTD plan replaces 60% of your eligible income, helping provide financial protection when you need it most.

Employer-Provided Coverage

  • No employee premium is required for the basic LTD benefit.

  • Coverage is available to eligible full-time employees after one year of employment.

  • The plan replaces 60% of eligible earnings during a qualifying disability.

  • Optional Additional Coverage

  • During Open Enrollment, eligible employees may purchase an additional 10% of income replacement coverage beyond the employer-provided benefit.

Additional coverage is available at group rates; however, Evidence of Insurability (completion of a medical history statement) is required before coverage can be approved.

Consider whether additional income protection would help support your financial goals and household needs in the event of an extended illness or injury.

Accident Insurance

Accident insurance through The Standard provides a lump-sum benefit if you or a covered eligible dependent experiences a covered accident.

Benefits can help offset unexpected expenses related to treatment and recovery following an accidental injury.

Covered Injuries and Services May Include

  • Lacerations

  • Burns

  • Dislocations

  • Emergency dental repair

  • Ambulance transportation

  • Emergency room treatment

  • Surgical procedures

Health Maintenance Benefit

Covered employees and dependents may receive a $50 annual Health Maintenance Benefit when they complete an eligible wellness screening or preventive care visit.

Youth Organized Sports Benefit

If a covered child under age 18 is injured while participating in an organized sport, an additional 25% benefit may be payable under the policy.

Accident insurance can provide additional financial protection by helping pay for expenses that may not be fully covered by your medical plan.

Premium Rates

Accident Insurance Monthly Premiums
Coverage Level Monthly Cost
Employee Only $6.91
Employee + Spouse $11.00
Employee + Child(ren) $13.07
Family $20.53

Hospital Indemnity

Hospital indemnity insurance through The Standard provides a lump-sum benefit when you or a covered eligible dependent is admitted to the hospital.

These benefits can help offset out-of-pocket expenses associated with a hospital stay.

Benefits Include

  • $2,000 hospital admission benefit (payable once per calendar year).
  • $200 per day of hospital confinement for up to 15 days per admission.

Premium Rates

Hospital Indemnity Insurance Monthly Premiums
Coverage Level Monthly Cost
Employee Only $16.19
Employee + Spouse $27.43
Employee + Child(ren) $22.59
Family $40.47

Waiver of Premium: You will not be required to pay premiums while confined to a hospital for more than 30 consecutive days.

Reviewing Your Beneficiaries

When was the last time you reviewed your beneficiary designations? Keeping this information current helps ensure that your life insurance benefits and retirement assets are distributed according to your wishes.

Open Enrollment is a good time to review and update your beneficiary information.

Life Insurance Beneficiaries

During Open Enrollment, you can review and update beneficiary designations for:

  • Auburn University’s employer-provided Term Life Insurance

  • Optional Voluntary Term Life Insurance, if enrolled

  • Voluntary Accidental Death and Dismemberment (AD&D) Insurance, if enrolled

Retirement Plan Beneficiaries

Beneficiary changes for retirement plans must be made directly through your retirement plan provider.

  • Contact the Teachers’ Retirement System (TRS) to update beneficiaries for your mandatory retirement account.

  • Contact your retirement plan provider directly to update beneficiaries for any 403(b) or 457(b) accounts.

Review your beneficiary designations regularly and after major life events to help ensure that your information reflects your current wishes.